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Tds on interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 April 2015 A Pvt. Ltd. Co. took loan from Religare. It has to pay
EMI falling due on 10th of every month.

Tds is deposited on interest component of EMI and later
reimbursed by Religare for tds amount.

Query is

a Whether interest has to be provided for period
from 11th Mar to 31 Mar.

b If yes, whether tds will be deposited in two
phases, first for interest upto 31st March
which will be deposited before 30th Apr
& before 7th may for remaining interest
for period from 1st Apr to 10th April.

Please advise.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
20 April 2015 Yes. You are correct interest has to be provided for and TDS to be deducted and deposited in two phases.

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